Houston, TX - Burlington

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Burlington investment property located in Houston, Texas. The tenant, Burlington, recently signed a brand new 10-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features rental increases in year 6 and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.

The Burlington is located near the signalized, hard corner intersection of Interstate 45 and West Road which combine to average more than 299,400 vehicles passing by daily. Interstate 45 is a major retail and commuter thoroughfare serving the city of Houston. The subject property is a part of Greens Landing Shopping Center, which features other national/credit tenants including a Walmart Supercenter, Home Depot, Academy, Chipotle, Panda Express, Chase Bank, and more. The asset is across from West Road Plaza, with major tenants including The Dump, Joe V’s, Ross, Five Below, Whataburger, and Taco Bell. The property is in the center of a primary retail corridor with other nearby national/credit tenants including ALDI, Fiesta, dd’s Discounts, Chili’s, Chick-fil-A, Raising Cane’s, Starbucks, and more, further increasing consumer traffic to the site. The subject property is in close proximity to Aldine Senior High School, which has a student population of over 2,500. The 5-mile trade area is supported by a population of over 305,000 residents and 107,500 employees with an average household income of $68,328.

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Listing ID: a28TP000002oRIPYA2